Negative market sentiment drags down newbie DITO s stock price bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
BusinessWorld
May 16, 2021 | 10:10 pm
STOCKS are expected to climb this week after the government eased quarantine restrictions in Metro Manila and its nearby provinces of Bulacan, Cavite, Laguna, and Rizal on the back of lower daily coronavirus cases in the country.
The Philippine Stock Exchange index (PSEi) went up by 32.96 points or 0.52% to close at 6,269.36 on Friday. Meanwhile, the broader all shares index declined by 7.02 points or 0.18% to end at 3,850.98. Week on week, the PSEi gained 10.65 points from its 6,258.71 finish on May 7.
AAA Southeast Equities, Inc. Research Head Christopher John J. Mangun said Friday was “the most interesting trading day due to the increased volatility” in the market. He said bargain hunters held off as they were expecting the weakness of the market after restrictions were extended until the end of the month.
BusinessWorld
May 13, 2021 | 9:00 pm
COURTESY OF PHILIPPINE STOCK EXCHANGE, INC.
INVESTORS are expected to take their cue from the Bangko Sentral ng Pilipinas’ (BSP) recent policy decision and local economic data as the market reopens today after a one-day break.
The benchmark Philippine Stock Exchange index fell by 90.43 points or 1.42% to close at 6,236.40 on Wednesday. The broader all shares index also declined by 49.96 points or 1.27% to 3,858.
Financial markets were closed on Thursday in observance of the Feast of Ramadan or Eid al-Fitr.
“We may have to see how the market reacts to the BSP’s revision of its inflation forecasts for 2021,” Darren Blaine T. Pangan, trader at Timson Securities, Inc., said in a Viber message on Wednesday.
BusinessWorld
May 6, 2021 | 9:00 pm
PHILIPPINE STAR/ KRIZ JOHN ROSALES
STOCKS continued to decline on Thursday as the possibility of an increased pork tariff rate caused renewed concerns over inflation, dampening market sentiment.
The benchmark Philippine Stock Exchange index (PSEi) declined by 16.91 points or 0.26% to close at 6,282.78 on Thursday, while the broader all shares index lost 2.78 points or 0.07% to end at 3,879.65.
China Bank Securities Corp. Research Associate Jason T. Escartin said market sentiment stayed weak due to the possibility of an increase in pork tariffs, “which may fan inflation concerns anew.”
“While the compromise agreement between local hog raisers and government is likely to hurt short-run market sentiment due to its impact on inflation expectations, we think this reduces the uncertainty around a sharper policy reversal in [the second half of the year],” Mr. Escartin said via e-mail.